Contact Singapore - Financial Services

Financial Services

Singapore is a leading international financial centre, home to over 600 local and foreign financial institutions.

Its strong fundamentals stem from its reputation for trustworthiness, sound governance and a strong legal framework. In the World Economic Forum’s Global Competitiveness Report 2009, Singapore was ranked first in corporate governance standards in Asia. Also in 2009, Standard & Poor’s affirmed the “AAA/A-1+” sovereign credit ratings in Singapore, making it the only Asian country with this rating.

In 2008, the industry contributed more than 13% of Singapore’s GDP and employed 5.4% of the total workforce. Over the years, the range of financial services offered by the industry has expanded to include areas such as wealth and asset management, equity and bonds, foreign exchange and derivative markets. Today, Singapore is one of the most established capital markets in the Asia-Pacific and the largest Real Estate Investment Trust (REITs) market in Asia, excluding Japan.

The areas of global wealth management and fund management have grown significantly and Singapore is currently the largest trading centre for emerging-market currencies in Asia. We are also one of the world’s fastest-growing domestic bond markets and a leader in the trading of Over-the-Counter commodity derivatives in Asia. With total assets of SGD1 trillion under management, Singapore is a premier asset management centre in Asia-Pacific.

Having weathered the 2008 global economic crisis, the future of Singapore’s financial sector looks bright. Rising wealth creation in Asia will drive demand for private banking, asset management, treasury and insurance services. There are abundant employment opportunities for talented professionals.